Courage and Faith
April 7, 2020
Grilling Ninjas
May 22, 2020

Oil Flushes Down the Drain

What a week for the oil markets. Have you ever been in that situation where a recently flushed toilet just keeps flowing and flowing as you desperately look for a way out of what could be a very bad situation? Oil traders had that feeling all week, especially on Tuesday, when the futures market actually went negative in a big way, closing at -$38 dollars a barrel. As the world shut down continues and oil continues to flow, there is now nowhere to put it. This just another dramatic example of the unintended consequences to our economy by literally shutting us all at home. Negative oil, negative interest rates, record unemployment, what next? Actually, this will be the first year in history where social security benefit payments will outstrip social security tax revenue. We all need to do our best to get the economy back up and running, as each day is more important than the previous. “We got no food, we got no jobs, our pets heads are falling off…”

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